@@markpabst129except the average person doesn’t have anywhere near $500k in their retirement fund as they are nearing retirement. Well, maybe the “average,” but certainly not the mean who has less than $100k when they retire. In fact, 49% have $10,000 or less.
I retired in March with a moderate income and I couldn’t be happier. I’ll be 65 in about 3 weeks. I still have a small mortgage but otherwise, I’m debt free.
Hi, I am 62 and recently retired. I have watched 100's of these early retirement videos over the past 6 months, yours is the 1st I have subscribed to. I look forward to following your journey as it may closely mirror my own.
@newhampshirelifestyle4233 some companies give insurance based on the number of years you work rather than your age. She advised she shops at the marketplace so it's based on her income.
Great for you! I’m 56 and hope to be there also at 59. I dislike how the media wants us all to believe that we have to work until we are 70 and beyond.
Wife and I are 56 and Retiring at 60. The Media, Colleges, Government, and or Course Investment Companies want us to work to 67 and beyond no matter what. It is all about Taxes and AUM, (Assets Under Management). When we retire at 60 the state of MA and the US Gov will loose 10's and 10's of thousands of tax revenue from us. If 5 million people do what we are doing at 60 Governments will have major cash flow problems, hence the Lies and FEAR FOR SALE.
@@retirethisway sorry mam, you can retire whenever you want. doesnt mean its a good choice. The numbers you explained are big risk. How much you account for health insurance? What about medical emergencies? Also you said funds will last 20 year to get you into 80 years. You assuming no money needed at that age?
Breath of fresh air. Realistic and to the point. So much click baits and people with certain agendas that you never know anymore. Very good strategy, I am 51 and planning stopping working at 53.
I retired at 57 old and single. I've never owned a home. Its been 5 years and I have no regrets. No I did not retire a millionaire. Ignore the naysayers. Congrats
Being single is what saved you. A lot of family oriented people can’t retire early financially like single folks unless they are either inheritedly wealthy or financially literate, which is not the case for most people that have families. Single folks have all the time in the world to spend investing and prioritizing financial education and literacy.
Nice to hear from a single person with no home. It's way harder for us. My work/commute is crushing me and I don't see a way out due to cost of living in my client country. Got a late start so no huge pension and no inheritance.
I just retired this past year, at age 55 and yes the biggest challenge so far has been arranging my investments, so that I qualify for lower cost healthcare over the next 9 years. I'm healthy, but my wife is not, so buying private insurance is not an option. If you are healthy, you can get private insurance that's not too bad, but if not, the ACA is the only option. I went ahead and rolled a large chunk of my investments into a Roth IRA this year, which increased my earnings this year, but will greatly reduce my taxable income the following years. I'll have a huge tax bill this year and I'm paying the high cobra rate for insurance this year, but next year I'll be in really good shape on both, with almost no taxes and a very low premium on my health insurance. I've saved enough outside my retirement accounts, that I can get by till I turn 59.5 and can start drawing money from my Roth. Anyway, yes I agree, healthcare is a an issue for a lot of people. You really do have to plan on having some money outside of your retirement plans, if you are going to retire before age 59.5 and/or have money in a Roth for ages 59 to 65. Just planning on being healthy and having access to a low cost private plan, could really burn you. The only other option I've seen people do, is to leave the country and go to someplace with cheap healthcare. (Obviously we're not counting the people who can afford the 2 grand+ a month premiums, plus 15k deductibles, for an ACA policy with no subsidies.)
@@farmecologist3395 I haven't researched pre-ACA healthcare costs, but as someone that just enrolled in an ACA plan, I find it hard to believe that ACA costs are "quite good" or that it's "easier to retire early than it used to be" for everyone. My wife and I are both early-retired at 55 and our ACA plan is $2085/month after our premium tax credits of $800/month. It's a Gold PPO plan with a $5K family deductible, but our history shows we would pay over $15K in deductibles every single year, so going with a cheaper Silver plan would end up costing the same but be more of an inconvenience. Right now, we're looking at paying a minimum of $300K in premiums + deductibles before we're eligible for Medicare, but if premiums and deductibles increase at anything close to the rate they have been, it'll actually be over $400K.
Congratulations! I retired early at 51 years old, almost 15 years ago. At that time, I had $500,000. invested also. I also had a pension when I retired. I have not ever put in for social security yet because I have never really needed it. but, on October 1st 2025, when I'm at full retirement, I'm planning to start getting it. The 500k I had when I retired is now, $3.2 million. Congrats & good luck to you. You can do this!
@@retirethisway Thank you. Yes, it has worked out very well. The only reason i was able to do this, was because I never got married and I never had any kids. Otherwise, I wouldn't have ever been able to do this.
@@markmolinari777I am younger than you but in the same situation with lower numbers. May I ask you how do u manage your inheritance and the anxiety of you have one about who's going to inherit those 3 millions let's say if something happens to you tomorrow unluckily since you don't have like me a kid and a wife?
This was SO refreshing to watch. Folks in the personal finance community will have you working forever because they tell you that you need 2 million+ to retire. I’m a firm believer in not working unnecessarily and I plan to retire in the future with way less money. Thanks for letting us know it’s possible.
My experience of financial planners is they want 2-3k up front, 1% charges to move your funds into their own fund manager and then 1% management charge a year. Completely contradicts their own advice 😂
I did the same thing, single and fully retired comfortable. Thank you for your story. I am in the exact same situation to the letter. I have no family left, no chidren.
I just found your awesome channel. I am 58, single (my wife passed away 4 years ago), and retired on May 15th. Please keep these great videos coming... Gary
You are so right. People talk around the actual numbers and do not share them. Thank you for going against that grain and I hope others will follow your lead. This was helpful and encouraging.
Awesome. I too have a "genetics" component built into my retirement strategy. No member of my fathers side has EVER lived past 76 yrs old. Its refreshing to see someone else that factors family health history into their retirement calculus. I am 55 now but will stop work when I hit 60. From 60 - 70 I will travel as much as I can while still having the mobility to do so. After that, its a crap shoot and the odds, historically, aren't in my favor. For now though, I will live vicariously through your adventures. Thanks for sharing !
I’m 59 and so ready to retire asap. Work is really wearing me out at 40 hours per week. I hope to retire at 62. I’d do it sooner if possible. I love your outlook and plan and just subscribed.
@@Abraham.Lincoln22 She must have a miserable job. I am in my 50's and plan on working until I am at 70+. But then again, I love what I do and can't see sitting home all day being bored.
40 hours is pretty typical though. You are probably worn out from dealing with other people. Stress from jobs aren’t usually the jobs within themselves. Most of the stress from jobs actually comes from dealing with other people on jobs like coworkers and managers that make them Stressful. You’re probably in some type of job that has a heavy emphasis on dealing with people such as customer service or healthcare. Those jobs are pretty miserable from what I’ve always seen because of the people. Try to find work that’s remote that takes you away from people. Those are usually the best most stress free jobs. I work in IT and I do it 100% remote from home and I absolutely love it. No people to deal with at all!!!
My dad passed away during covid leaving my mom about 1.4 in investments and with the house too. She gets about $1800.00 a month in SSC and does not even spend that. My sister and manage her bills and home for her. We will be selling the house soon to have her move in with my sister and the money will go into a trust fund, also this is in Long Island NY. Doing the math I'm started big time savings in my early 20s (58 now) and just scaled down to an easier job making 1/3 less but more time off and less stress. Realizing you are so correct, you do not need a lot to retire but a good financial game to do so.Also no one is going to remember you as time goes on so enjoy your time here while you can.
I'm a couple years younger than you with a very similar scenario. Although I'll have a little more when I retire, it's nice to see other people posting their situation and showing that it is feasible to reitre a little early with a modest retirement fund. Especially single people. So many of these types of videos are about couples retirements
@@XDetoursX I’m glad you found the channel! I have been thinking about doing some videos focused on the single perspective. I know there’s not a lot of us sharing our retirement journeys.
You sound like you've done a lot of good thinking and planning. I was recently laid off into retirement at 59.5 this past July while my wife works, and my twin 16 yearolds are juniors in High school. Thanks for sharing your story and looking forward to hearing your journey going forward!
Thank you for being realistic. I’m 55 and I so badly want to retire at 62. I’ve been working since I was 14 with zero time off. Been a RN for 36 yrs & I’m just done. I will be debt free by retirement, I hope. Renovating my house now with equity loan so I do not worry about repairs in retirement. I will buy my last new vehicle right before retirement & pay that off, god willing. I do not have longevity in my bloodline either so I want to just enjoy time alone. Your story is inspiring because it takes it from a single middle class person (like myself) and you don’t need 2 million dollars. Will be binging on all your videos. New subbie💜
I’m 59. An RN here for 38 years. I’m so done also. This gives me hope. I’ve needed hope!!! I’m also following you now. Congrats and thanks for sharing this !!! ❤😊
As much content as there is on UA-cam and other platforms, I’ve never seen this subject matter. It is so important! I’m rather excited to learn about it. Subscriber!
It’s not even just about the equity in the home. Depending on when the house is paid off, not having a mortgage or rent payment dramatically shifts the numbers. Using the home equity as a backup for long term care or future concerns is leaving out a huge part of the equation. I think it would be valuable to share all of the numbers.
Sounds like you have your plan all set in action. Congratulations! It makes me happy to see people who are intelligent, and have a well thought out plan that don't seem to need more than a million dollars to retire! I'm working my plan to retire at age 55. I do plan on moving to a lower cost of income area. I'll have no mortgage (or rent) payments, and I will be debt free. I figure I can live off of less than $28,000 per year. I already have my 35 years of good wages earned for my Social Security. If I can work my plan, I'll actually need to show income (from Dividends and interest) of about $20,000 per year, and then my healthcare will be subsidized by the ACA. For what it's worth, I am currently 53. I am a widower, so it's just me and my income and expenses. I've been searching for the perfect parcel of land to go build a 600-800 sq. foot off grid cabin. (Even less bills to pay with no utilities) I just can't wait to get away from the hustle and bustle of city life and an office job. Get back to nature and get rid of stress!
@retirethisway I enjoy nature, I've lived in Notheastern PA, and at elevation in Colorado for years. I love the convenience of the city, but every vacation I take I realize I miss quiet, peaceful, nature!
Nice job. Similar financial position (Lean FIRE, low expenses) over here in New Zealand although we're a couple and am looking at 57-60 before pulling the pin (Almost 55 atm).
Wow so happy to have found your channel, my husband is 56 and I am 48 so we are getting our plan together and this is super helpful ! Excited to follow along
This was very well thought out. I’m about a year younger than you. I was thinking of retiring at 62 but I may be forced to retire earlier than I thought. My parents live one state over and are in their mid eighties. I’m already using a chunk of PTO to make frequent trips to check on them. There might be a situation where I may have to go for extended periods of time. There’s a very real possibility retirement may come much earlier than I expected. Your video makes me feel a lot better and gives me some confidence that I can make it work.
I subscribed, and this will be a compelling story. I'm about to be 58 hoping to retire at 63. Currently, I have about 550K saved also will have a small pension. So this is close to what I'm looking at.
Wow! You're very courageous for retiring early and still not collecting SS. As long as you have a game plan, you'd be ok. I retired this year and started collecting SS at 63. Although I have no debt and own a home with good savings I am still worried. Since, Medicare will only kick-in at 65. I put half of my savings in index funds which will give me around 10% returned. The other half on CDs and MM. I try to just live on my SS check. Good luck. Please keep us updated.
you have a great plan. There are so many ways to do this because it's personal and many ways will get you there. I'm 60 and just retired and I like to keep things as simple as possible. They may not be the most optimum with returns and taxes, but I'm good with that. My wife is 64 and she really is not into this stuff, so prudent wins over optimum for me. I paid off my house before I retired, still have a small car loan, two years remain. I have 1.3 million in the Vanguard Balanced Index Fund and right now I only need $3K a month, still not sure if I will take social security at 62 which will be 2K or at 67 3K give or take a hundred or two. Either way, I won, because I will make it work. Good Luck, you did great! I love not having to work for a company and a job I hated. It's been a year now and my mental health is a million times better and just love living the simple life.
I waited until I was age 68 and 9 months before taking my SS. I had my wifes survivor SS along with pension until then. Huge difference in amount of SS.
congrats. I'm sure you've done the math, but if you take SS at 62, by the time you hit 67, you'll have taken $120k from SS. Taking SS at 67, it'd take you 10yrs just to break-even with the money you'd have had taken at 62.
Appreciate your transparency 🙏.. your thinking aligns well with a post I was listening to in the uk just recently in which it was pointed out that while the average male life expectancy in the uk is 80.. the average HLE (healthy life expectancy.. that is to say not necessarily ill, but living completely free from illness) is just over 62 .. so I think you’re doing the right thing!
I just had to subscribe. I love your transparency. I early-retired last year at 54. My wife and I are numerically in much better shape, but sometimes, we just don't feel like it. I hope to understand your expenses better, especially things that can be very expensive for some people, but not others, such as health-care costs, real estate taxes, vehicle taxes, utilities, etc.
This was super helpful & thank you for your transparency. I was just laid off at 61 after 25 years at the same company so was wondering if retiring at my age was at all possible. This help me make a more informed decision.
Good for you. People with pensions are able to retire in their late 50's without a problem. For everyone else, they get confused trying to calculate the numbers and work too long. You are showing the way.
I enjoyed this video and the path forward that you laid out. In future videos, I think you would benefit your audience greatly by adding numbers on screen when you discuss dollar values. It would make it easier to follow. Congratulations and good luck in your retirement
Great advice. I retired at age 60- 5 years earlier than I planned. I got burnt out as an ICU nurse during COVID and could not psychologically work anymore. It all worked out. I have a similar plan as you. Buckets for different needs. My extra wants are based not on inflation as much as the stock market. People are complaining about the price of eggs, but I've been traveling more in the past 2 years than I could have ever imagined, because of similar (as you) returns on my investments. My biggest piece of advice is to do your research- like following you. Retirement is more than $$, it is also your emotional well being of being free.
@@kathyokinaga9888 I wholeheartedly agree! Congratulations on your retirement too! I just got back from Greece and headed to Portugal and Amsterdam in May. Where all have you been traveling to?
Thanks for sharing your numbers, it sounds like a solid plan. Congrats on growing your channel so quickly, my prediction is you will have a side gig very soon.
Thanks so much for the very detailed and transparent video! I’m in my final years before retirement and found this very helpful. By contrast, so much of the retirement planning “advice” out there is comprised of generic rules of thumb lacking real world details. Appreciated your description of building in adjustments to the plan in response to changing market or life conditions.
sounds like a solid plan to me. I think you're doing great. an encouraging word for you: don't let your parents mortality limit your own. eat whole foods, exercise, take care of your body and mind and you will do great!
Congrats on your retirement, I am looking forward to a 59-1/2 retirement the end of next year, and plan on being a subscriber to your channel for some insight . Your channel is very nicely done and I appreciate the honest and open view. I think you will have a nice side hustle right here if you keep it up 👍
Just found your channel, hard to find retirement channels on moderate retirement income which is the space we're in. Great video & thanks for your willingness to share.
Thank you for the positive message here. Too many videos include dual incomes to make those huge numbers. I’ve been single for a LONG time now (but I have 3 kids…so my retirement differs) and want to retire at 60 and know I won’t have $1M or more by then. So this is so needed and you cover multiple accounts and taxes…which need to be considered. Congratulations on your retirement. I’m looking forward to your videos!
I'm glad you found the video helpful! Planning for retirement can be tough, especially with kids to think about. It’s great to see you working towards your retirement!
Look forward to following you. Very similar situation on my end. You probably already know, poor on paper can get you reasonable health care on the open market place. Thanks for the video!
A little under two years ago, I retired at 59 with 500k. I have a paid off home, low monthly expenses and multiple income streams such as rental income. Having all of that in place made it easy to retire with just 500k. However, because of the stock market, that has since gone up. I live by the 4% rule and theoretically depending on the market and other variables, 500k should grow to a million dollars by the time I die in hopefully in 30 yrs or more.😁
New subscriber. Congrats! I retired this past Oct just shy of 56 from a govt contracting job. I’m also retired military so blessed to have a pension and VA disability. Glad to see so many people starting to retire early and changing the paradigm on working till you die! Life is short and tomorrow is not promised. I also like these modest income retirements that debunk this whole you need millions of dollars to retire mantra! You have low expenses so that is great but between now and when you take SS it looks like you are taking out almost 9% yearly which is double the 4% Rule so just something to watch out for. Congrats again! 🎉
Hi and welcome to the channel! Once I start taking SS in two years, I will not be taking that much from my investments. My SS will cover most of my expenses.
Several states don’t have an income tax, some folks might consider that, I live in Tenn, with no state income tax, but the sales tax is probably more than other places, about 9.5%.
@@andymoses419 well, our legislators tried to impose a state income tax about 20 years ago, we had thousands of people show up and raised such a fuss, they decided they better leave it alone.
I'm the same age as you and still working, but I've had several friends who have retired already. I would be interested in learning your financial strategies and how you fill your newfound time. From my father to the people my age who have already retired, this seems to be the biggest challenge after about a year of not working and being totally free.
Hi! Yes, filling time can be tough! I have a video coming out in a few days that touches on this subject. Stay tuned! But for me, I bike ride, go the gym regularly, joined a book club, joined an outdoor adventure group, and I'm doing this channel!
I am 55 wanting to retire this yeat. Wife is 58, retired and using her 401k for her monthly expenses. Her 401k is under 100k. My 401k is just over 900k. We have no pensions. I have worked since age16 and most have been factory jobs. Currently in my 33rd year with this job. Its physically demanding and health issues in the past year are reasons i want out. I also looked back on ages of relatives passing away and the avg age is about mid 70s. Loved the transparency of your video. Only found two or three others with that. I am also originally from VA so that spoke to me. Your numbers give me even more confidence that I'm doing whats right for my wife and mysrlf. I subscribed
I wish you lots of luck in your early retirement. The only concern I have after listening to you was your health insurance coverage don’t underestimate that cost. That is a big deal when you’re retired. Hopefully you will stay healthy and you will live long time. Good luck.
@retirethisway. Would be a gift if you can cover in a future vid.. health insurance is one of questionmarks i have on how to cover if retiring early..
Congratulations! I subscribed so that I can follow along. It’s good to see someone with a well thought out strategy doing what they want to do and being comfortable with it. It’s all about what works for you.
Congrats on retirement! You may have quite a bit of interest rate risk in the fixed income/CD part of your portfolio. Next time the fed cuts rates (as they always do whenever the economy lags), your 5% return will disappear. You could consider mixing in longer term treasuries in there to make sure you lock in that rate of return.
Thank you for the video! I’m 61 and plan to retire in 8 months when I turn 62. I live in Florida and the only concern I have is how fast the cost of living is rising here. Thank you again for sharing your plan.
Hi, just subscribed. Maybe it's in another video on your channel; but what are your plans for healthcare before you apply for medicare? I'm semi retired now, and I signed up for Obamacare, and it's expensive! That seems to be the wildcard these days.. healthcare expenses. I was thinking of being underinsured, but I know that one major hospital bill could sink someone's nest egg. The best insurance there is during this time is to be as healthy as you can be. Great content btw.
Hi and welcome to the channel! I too am using Obamacare. I chose a Bronze plan, which has a high deductible. The key to getting it at an affordable price is to qualify for the subsidies. I posted a video on the health insurance options for early retirees. I'm in the process of creating one that goes through all the details of Obamacare, but it will be a couple of weeks until I get it posted. Check out this one in the interim: ua-cam.com/video/m0_HbpIKLE8/v-deo.html
@@retirethisway thanks! I'll check it out. I like your mindset. I too am going to retire without a pension. I live pretty frugally and am completely debt free... It took a while. Looking forward to future videos on this topic-- early retirement!
I did 500k at 41 years old. I've got it in an 8% dividend paying fund that works out to about $3250 per month. Almost 2x what I need for expenses. The rest goes back to build the principal.
I will be retiring in 3 years at 57!! Im excited about it! I can't wait to do my crafts daily, travel, and spread the gospel!! Congratulations to you!! Thanks for doing this video!!
Congratulations on your retirement - enjoy! I'm going to chime in with the others and agree that your strategy is well thought out yet flexible. It's refreshing to see so many great questions and thoughtful comments.
I enjoyed watching this video. I am 63 and retired at 58. My wife and I live a fairly modest life style. I chose to take my SS at 62 so I did not lose my earnings on my investments to pay for medical insurance / expenses (which are more that my mortgage). nest egg of about 500K. Our total monthly expenses run about $7000. The challenges that I have run into are the medical expenses. I would love to know more about your investments because the returns (1yr and 3/5 year returns) you are achieving are most impressive. Looking forward to seeing more.
there is one factor that you are not considering.... and that is that you will probably soon be making some money from youtube !!!... another great video ! it does take a lot of moxie to be so transparent about one's personal financials, no other channel is so pertinent nor as honest as your channel
You forgot an important thing, you seem like a happy person in general, and happy people lead a "richer" life! (See what I did there). Congrats on your retirement. I can't wait to join the club in a couple of years. - happy thoughts.
My mother-in-law (who was awesome!) retired at the age of 60 due to the company she worked for downsizing and giving bonuses for people to take early retirement. She lived 3 years after she retired the last year she lived with pancreatic cancer, which eventually took her from us. Life is short if you think you can make early retirement work go for it! You only get one chance at this and every day is uncertain so live it up folks. Good for you young lady I hope everything goes well and you live a long health retired lifestyle surrounded by loved ones and good friend.
Good job girl! I'll follow your success and see how your doing. I'm 57 and looking to hang it up here in the next few years. I might of missed your health care plan? I'll have to watch again.
First time viewer here. She’s very thoughtful and well planned but if she lives to 90 or so she is screwed. Never plan thinking you will die at 75 despite her folks dying at that age. She seems sharp,smart and appears in great health. Wish her the best regardless.
@@TheTaytay198 thanks for your kind words! You have misunderstood a key point though. I’m planning to live well beyond 75. I retires early to enjoy my time *just in case*. My savings will last beyond 75, as will my social security!
Excited to follow your journey. 54 and hopeful to be at this stage by 59. I have one last child to get through college and then time to smell the roses. Cheers
Congrats on your retirement! I retired 3 yrs ago at 58. Life is good!
thanks!
Your numbers are very similar to mine and I'm turning 55 in a few months, so this gives me hope of being able to retire at 60.
I'm so glad I could help!
Retire early , cut back on buying stuff, and enjoy your like while you still have it, God Bless
Same! I'm 55, listening closely to this nice lady & taking notes!
Finally! A single person with this kind of advice. So tired of all of the channels who focus on retirement for the married people.
I am so glad I could be helpful! Lots more to come...
Also sick of all the rich people who retire early and tell you what to do. This seems so much more realistic for the rest of us "average" people.
@@markpabst129except the average person doesn’t have anywhere near $500k in their retirement fund as they are nearing retirement. Well, maybe the “average,” but certainly not the mean who has less than $100k when they retire. In fact, 49% have $10,000 or less.
I did it at 57....and here I am! I'm having so much fun :)
I retired in March with a moderate income and I couldn’t be happier. I’ll be 65 in about 3 weeks. I still have a small mortgage but otherwise, I’m debt free.
Hi, I am 62 and recently retired. I have watched 100's of these early retirement videos over the past 6 months, yours is the 1st I have subscribed to. I look forward to following your journey as it may closely mirror my own.
Well, I am honored! Thank you so much!
How did you pay for health insurance?
@@newhampshirelifestyle4233 I have an ACA plan, it's very inexpensive if you can keep your AGI low.
@newhampshirelifestyle4233 some companies give insurance based on the number of years you work rather than your age. She advised she shops at the marketplace so it's based on her income.
@@newhampshirelifestyle4233maybe ACA? But I’m still trying to get an answer from another person on here as to what it is lol?
Great for you! I’m 56 and hope to be there also at 59. I dislike how the media wants us all to believe that we have to work until we are 70 and beyond.
Thanks so much! The media seems to only report fear these days!
Wife and I are 56 and Retiring at 60. The Media, Colleges, Government, and or Course Investment Companies want us to work to 67 and beyond no matter what. It is all about Taxes and AUM, (Assets Under Management). When we retire at 60 the state of MA and the US Gov will loose 10's and 10's of thousands of tax revenue from us. If 5 million people do what we are doing at 60 Governments will have major cash flow problems, hence the Lies and FEAR FOR SALE.
@@retirethisway sorry mam, you can retire whenever you want. doesnt mean its a good choice. The numbers you explained are big risk. How much you account for health insurance? What about medical emergencies? Also you said funds will last 20 year to get you into 80 years. You assuming no money needed at that age?
She has her home she can sell and move to assisted care or she can get an asset backed loan.
Why would the media care how long anyone plans to work ?
Breath of fresh air. Realistic and to the point. So much click baits and people with certain agendas that you never know anymore. Very good strategy, I am 51 and planning stopping working at 53.
That's wonderful! I'm so glad you enjoyed the video!
I retired at 57 old and single. I've never owned a home. Its been 5 years and I have no regrets. No I did not retire a millionaire. Ignore the naysayers. Congrats
@@Retired-jr3qs thanks! And congratulations to you as well!!
Are you concerned about ever rising rent rates? I’m 56 and still renting and I’m torn between saving everything or saving less and buying a home
It's always cheaper to rent. Owning a house is a huge commitment @@bryanwittenburg7171
Being single is what saved you. A lot of family oriented people can’t retire early financially like single folks unless they are either inheritedly wealthy or financially literate, which is not the case for most people that have families. Single folks have all the time in the world to spend investing and prioritizing financial education and literacy.
Nice to hear from a single person with no home. It's way harder for us. My work/commute is crushing me and I don't see a way out due to cost of living in my client country. Got a late start so no huge pension and no inheritance.
Retired 10 years ago at 50. The last 10 years have been an incredible adventure and an exercise of personal growth.
That's fantastic!
@ great channel. Keep up the good work
I think what keeps some people from retiring early is healthcare insurance, since Medicare doesn’t kick in until 65.
The ACA is quite good for early retirees. I'd venture to say that it is much easier to retire early than it used to be, much of it due to the ACA.
Now that I'm nearing retirement, my VA benefits are a great relief. I'm covered for life, no cost, no waiting to 65
I just retired this past year, at age 55 and yes the biggest challenge so far has been arranging my investments, so that I qualify for lower cost healthcare over the next 9 years. I'm healthy, but my wife is not, so buying private insurance is not an option. If you are healthy, you can get private insurance that's not too bad, but if not, the ACA is the only option. I went ahead and rolled a large chunk of my investments into a Roth IRA this year, which increased my earnings this year, but will greatly reduce my taxable income the following years. I'll have a huge tax bill this year and I'm paying the high cobra rate for insurance this year, but next year I'll be in really good shape on both, with almost no taxes and a very low premium on my health insurance. I've saved enough outside my retirement accounts, that I can get by till I turn 59.5 and can start drawing money from my Roth.
Anyway, yes I agree, healthcare is a an issue for a lot of people. You really do have to plan on having some money outside of your retirement plans, if you are going to retire before age 59.5 and/or have money in a Roth for ages 59 to 65. Just planning on being healthy and having access to a low cost private plan, could really burn you.
The only other option I've seen people do, is to leave the country and go to someplace with cheap healthcare. (Obviously we're not counting the people who can afford the 2 grand+ a month premiums, plus 15k deductibles, for an ACA policy with no subsidies.)
@@farmecologist3395 I haven't researched pre-ACA healthcare costs, but as someone that just enrolled in an ACA plan, I find it hard to believe that ACA costs are "quite good" or that it's "easier to retire early than it used to be" for everyone. My wife and I are both early-retired at 55 and our ACA plan is $2085/month after our premium tax credits of $800/month. It's a Gold PPO plan with a $5K family deductible, but our history shows we would pay over $15K in deductibles every single year, so going with a cheaper Silver plan would end up costing the same but be more of an inconvenience. Right now, we're looking at paying a minimum of $300K in premiums + deductibles before we're eligible for Medicare, but if premiums and deductibles increase at anything close to the rate they have been, it'll actually be over $400K.
@@farmecologist3395 Good point - I was thinking healthcare costs would be outrageous before 65 but since ACA rates are based on income, it helps.
Good for you. I’m 18 months away from retiring in 2026 at the age of 62. I would have taught nearly 30 years and I am ready for a change.
That’s just around the corner, awesome!
Congratulations! I retired early at 51 years old, almost 15 years ago. At that time, I had $500,000. invested also. I also had a pension when I retired. I have not ever put in for social security yet because I have never really needed it. but, on October 1st 2025, when I'm at full retirement, I'm planning to start getting it. The 500k I had when I retired is now, $3.2 million. Congrats & good luck to you. You can do this!
Mark you have done very well for yourself! Kudos!!
You had very good sequence of returns!
@@retirethisway Thank you. Yes, it has worked out very well. The only reason i was able to do this, was because I never got married and I never had any kids. Otherwise, I wouldn't have ever been able to do this.
@@markmolinari777I am younger than you but in the same situation with lower numbers. May I ask you how do u manage your inheritance and the anxiety of you have one about who's going to inherit those 3 millions let's say if something happens to you tomorrow unluckily since you don't have like me a kid and a wife?
It's 3.2 on paper.
I'm so happy this showed up in my feed. I'm 48 and my plan is to retire at 55. I'm definitely tuning in!!
Welcome aboard!
@ Thank you!
This was SO refreshing to watch. Folks in the personal finance community will have you working forever because they tell you that you need 2 million+ to retire. I’m a firm believer in not working unnecessarily and I plan to retire in the future with way less money. Thanks for letting us know it’s possible.
You are very welcome! I appreciate you tuning in!
My experience of financial planners is they want 2-3k up front, 1% charges to move your funds into their own fund manager and then 1% management charge a year. Completely contradicts their own advice 😂
this is because of peoples' outrageous spending habits.
I did the same thing, single and fully retired comfortable. Thank you for your story. I am in the exact same situation to the letter. I have no family left, no chidren.
Best of luck!
This is a great example if the level of detail you need to understand to retire with a true plan. Well done!! Enjoy your time.
Thanks Pete!
I just found your awesome channel. I am 58, single (my wife passed away 4 years ago), and retired on May 15th. Please keep these great videos coming... Gary
Gary - welcome aboard! I'm so glad you found the channel!
You are so right. People talk around the actual numbers and do not share them. Thank you for going against that grain and I hope others will follow your lead. This was helpful and encouraging.
Thanks Brian!
The other thing I love about your videos is the pacing. You pack good information in a succinct way.
I appreciate that! Thanks so much!
I also plan on retiring at 59.5 I’ll be watching your journey. I’m still 4.5 years away
Nice!
Thank you for the video! One small improvement suggestion, if you can include some numbers on the screen, otherwise it is hard to follow
Yes, I have started doing that for my monthly portfolio updates. Hopefully that helps!
just officially retired @ 59 .........feels good! Congratulations to you !
Fantastic! Congratulations 🎉🎊🍾
Nothing beats doing what you love for a living because it doesn’t feel like work and even better when you are the boss..
Absolutely!
Awesome. I too have a "genetics" component built into my retirement strategy. No member of my fathers side has EVER lived past 76 yrs old. Its refreshing to see someone else that factors family health history into their retirement calculus. I am 55 now but will stop work when I hit 60. From 60 - 70 I will travel as much as I can while still having the mobility to do so. After that, its a crap shoot and the odds, historically, aren't in my favor. For now though, I will live vicariously through your adventures. Thanks for sharing !
Glad you have a plan. But still work at staying healthy and maybe you can beat your family odds!
My dad died at 58 my mom at 90! Who knows.
Totally agree. The calculators always want you to figure to 90 or 95. I figure by then my knees and back will be toast by then!
Both my parents passed before age 50. I am 47
The clock is ticking⏰
I’m 59 and so ready to retire asap. Work is really wearing me out at 40 hours per week. I hope to retire at 62. I’d do it sooner if possible. I love your outlook and plan and just subscribed.
Jeanne welcome to the channel!
40 hours per week should be a cake walk. Many people work way more than that.
@@retirethisway 😀
@@Abraham.Lincoln22 She must have a miserable job. I am in my 50's and plan on working until I am at 70+. But then again, I love what I do and can't see sitting home all day being bored.
40 hours is pretty typical though. You are probably worn out from dealing with other people. Stress from jobs aren’t usually the jobs within themselves. Most of the stress from jobs actually comes from dealing with other people on jobs like coworkers and managers that make them
Stressful. You’re probably in some type of job that has a heavy emphasis on dealing with people such as customer service or healthcare. Those jobs are pretty miserable from what I’ve always seen because of the people. Try to find work that’s remote that takes you away from people. Those are usually the best most stress free jobs. I work in IT and I do it 100% remote from home and I absolutely love it. No people to deal with at all!!!
My dad passed away during covid leaving my mom about 1.4 in investments and with the house too. She gets about $1800.00 a month in SSC and does not even spend that. My sister and manage her bills and home for her. We will be selling the house soon to have her move in with my sister and the money will go into a trust fund, also this is in Long Island NY. Doing the math I'm started big time savings in my early 20s (58 now) and just scaled down to an easier job making 1/3 less but more time off and less stress. Realizing you are so correct, you do not need a lot to retire but a good financial game to do so.Also no one is going to remember you as time goes on so enjoy your time here while you can.
thanks so much for tuning in! Sorry to hear about your dad.
It's been proven you spend less as you get older. Until health care becomes an issue
I'm a couple years younger than you with a very similar scenario. Although I'll have a little more when I retire, it's nice to see other people posting their situation and showing that it is feasible to reitre a little early with a modest retirement fund. Especially single people. So many of these types of videos are about couples retirements
@@XDetoursX I’m glad you found the channel! I have been thinking about doing some videos focused on the single perspective. I know there’s not a lot of us sharing our retirement journeys.
You’ve really thought this out well. My current plan is to go at 65 but I’m going to take another look it. Subscribed
Thanks so much! I appreciate you tuning in!
I just subscribed. Very interesting.
New Subs. 55 and my biggest concern is Healthcare
congratulations! you have such a kind smile, all the best in your retirement!
Thank you so much!
Pray for high yields !
And that gains won’t be taxed
I just did it...just accepted an early retirement offer. I'm 60...I think I'll be watching more of these videos.
Woot, woot! Congratulations! I am very excited for you. 🤗
You sound like you've done a lot of good thinking and planning. I was recently laid off into retirement at 59.5 this past July while my wife works, and my twin 16 yearolds are juniors in High school. Thanks for sharing your story and looking forward to hearing your journey going forward!
Thanks for tuning in! Sorry to hear about your layoff, that stings! I'm so glad you found the channel!
Thank you for being realistic. I’m 55 and I so badly want to retire at 62. I’ve been working since I was 14 with zero time off. Been a RN for 36 yrs & I’m just done. I will be debt free by retirement, I hope. Renovating my house now with equity loan so I do not worry about repairs in retirement. I will buy my last new vehicle right before retirement & pay that off, god willing. I do not have longevity in my bloodline either so I want to just enjoy time alone. Your story is inspiring because it takes it from a single middle class person (like myself) and you don’t need 2 million dollars. Will be binging on all your videos. New subbie💜
Welcome aboard! And it sounds like you've done some amazing planning!
Me too!
I’m 59. An RN here for 38 years. I’m so done also. This gives me hope. I’ve needed hope!!! I’m also following you now. Congrats and thanks for sharing this !!! ❤😊
@ericlee2931 really??? Educate yourself before commenting. Go be a keyboard “expert” somewhere else.
@@ericlee2931 not valid or reasonable. Just assumptions based on myths.
As much content as there is on UA-cam and other platforms, I’ve never seen this subject matter. It is so important! I’m rather excited to learn about it. Subscriber!
Well Shawn, I'm so glad you found the channel! Welcome!
You should look up the FIRE movement.
Thanks!
Thanks so much for your support! It helps pay for my editing software.
A crucial factor not shared is the amount of equity in the house. That makes a huge difference, especially when the home equity is worth millions.
Hi! I do not have millions in home equity!
Yes. There is a HUGE difference between home owners and renters.
It’s not even just about the equity in the home. Depending on when the house is paid off, not having a mortgage or rent payment dramatically shifts the numbers.
Using the home equity as a backup for long term care or future concerns is leaving out a huge part of the equation.
I think it would be valuable to share all of the numbers.
It isn't a factor unless you plan on selling the home and using the proceeds as a form of income. You can't live off equity in a home.
Sounds like you have your plan all set in action. Congratulations! It makes me happy to see people who are intelligent, and have a well thought out plan that don't seem to need more than a million dollars to retire!
I'm working my plan to retire at age 55. I do plan on moving to a lower cost of income area. I'll have no mortgage (or rent) payments, and I will be debt free. I figure I can live off of less than $28,000 per year. I already have my 35 years of good wages earned for my Social Security. If I can work my plan, I'll actually need to show income (from Dividends and interest) of about $20,000 per year, and then my healthcare will be subsidized by the ACA.
For what it's worth, I am currently 53. I am a widower, so it's just me and my income and expenses. I've been searching for the perfect parcel of land to go build a 600-800 sq. foot off grid cabin. (Even less bills to pay with no utilities) I just can't wait to get away from the hustle and bustle of city life and an office job. Get back to nature and get rid of stress!
@@mattc7425 hi! Sounds like you have a really solid plan too! Living off grid is too ambitious for me. I so enjoy a bit of the city’s offerings.
@retirethisway I enjoy nature, I've lived in Notheastern PA, and at elevation in Colorado for years. I love the convenience of the city, but every vacation I take I realize I miss quiet, peaceful, nature!
Nice job. Similar financial position (Lean FIRE, low expenses) over here in New Zealand although we're a couple and am looking at 57-60 before pulling the pin (Almost 55 atm).
Wow your social security is amazing, you're going to be just fine.
@@livingunashamed4869 thanks! I think so too! 😊
Factor in those three well designed buckets… this lady is in great shape!! Thanks for sharing.
Yeah the max in Canada is under $2000 Canadian. Not possible for me.
Such a refreshing and realistic look at retirement
thanks so much, I appreciate that!
Wow so happy to have found your channel, my husband is 56 and I am 48 so we are getting our plan together and this is super helpful ! Excited to follow along
I’m delighted you are here, welcome to the channel!
This was very well thought out. I’m about a year younger than you. I was thinking of retiring at 62 but I may be forced to retire earlier than I thought. My parents live one state over and are in their mid eighties. I’m already using a chunk of PTO to make frequent trips to check on them. There might be a situation where I may have to go for extended periods of time. There’s a very real possibility retirement may come much earlier than I expected. Your video makes me feel a lot better and gives me some confidence that I can make it work.
Well I am glad I could be helpful! The key is to make a plan. You can do it!
I subscribed, and this will be a compelling story. I'm about to be 58 hoping to retire at 63. Currently, I have about 550K saved also will have a small pension. So this is close to what I'm looking at.
Welcome to the channel!
Thank you for sharing. I'm 53 and starting to plan for retirement.
That is great!
Good luck on you retirement and tell you son, thanks for his service to our country.
Thank you, I will
Wow! You're very courageous for retiring early and still not collecting SS. As long as you have a game plan, you'd be ok. I retired this year and started collecting SS at 63. Although I have no debt and own a home with good savings I am still worried. Since, Medicare will only kick-in at 65. I put half of my savings in index funds which will give me around 10% returned. The other half on CDs and MM. I try to just live on my SS check. Good luck. Please keep us updated.
Fingers crossed! I do provide monthly updates, so check those out if you are curious.
wow, you look young. i saw the thumbnail and thought you were early 40s. congrats on your retirement.
Thanks!
@@retirethisway of course.
you have a great plan. There are so many ways to do this because it's personal and many ways will get you there. I'm 60 and just retired and I like to keep things as simple as possible. They may not be the most optimum with returns and taxes, but I'm good with that. My wife is 64 and she really is not into this stuff, so prudent wins over optimum for me. I paid off my house before I retired, still have a small car loan, two years remain. I have 1.3 million in the Vanguard Balanced Index Fund and right now I only need $3K a month, still not sure if I will take social security at 62 which will be 2K or at 67 3K give or take a hundred or two. Either way, I won, because I will make it work. Good Luck, you did great! I love not having to work for a company and a job I hated. It's been a year now and my mental health is a million times better and just love living the simple life.
thanks for tuning in! Sounds like you are doing really well too!
Big congratulations 🎊
You nailed it. Congratulations!
I waited until I was age 68 and 9 months before taking my SS. I had my wifes survivor SS along with pension until then. Huge difference in amount of SS.
congrats. I'm sure you've done the math, but if you take SS at 62, by the time you hit 67, you'll have taken $120k from SS. Taking SS at 67, it'd take you 10yrs just to break-even with the money you'd have had taken at 62.
Appreciate your transparency 🙏.. your thinking aligns well with a post I was listening to in the uk just recently in which it was pointed out that while the average male life expectancy in the uk is 80.. the average HLE (healthy life expectancy.. that is to say not necessarily ill, but living completely free from illness) is just over 62 .. so I think you’re doing the right thing!
I’m glad you found the channel! Thanks so much!
As a newly retired 57-year-old I will be following your journey 👍
Fantastic, welcome aboard!
I just had to subscribe. I love your transparency. I early-retired last year at 54. My wife and I are numerically in much better shape, but sometimes, we just don't feel like it. I hope to understand your expenses better, especially things that can be very expensive for some people, but not others, such as health-care costs, real estate taxes, vehicle taxes, utilities, etc.
Brian thanks so much for tuning in! I am working on a video that goes over my budget. Stay tuned!
This was super helpful & thank you for your transparency. I was just laid off at 61 after 25 years at the same company so was wondering if retiring at my age was at all possible. This help me make a more informed decision.
I am so glad I could be helpful. I’m sorry to hear you were let go. Set up a plan and you will make this a successful transition to retirement!
Good for you. People with pensions are able to retire in their late 50's without a problem. For everyone else, they get confused trying to calculate the numbers and work too long. You are showing the way.
Appreciate you sharing!
You look way younger! Subbed I’ll follow your journey
Ah, thank you!
Congratulations on your retirement and very honest and sincere video. I look forward to watching your retirement journey! 🎉🎉
Thank you! And welcome to the channel!
Very helpful. I thought 57 was early but I feel much better about my plan now
Fantastic!
I enjoyed this video and the path forward that you laid out. In future videos, I think you would benefit your audience greatly by adding numbers on screen when you discuss dollar values. It would make it easier to follow. Congratulations and good luck in your retirement
Great suggestion!
Great advice. I retired at age 60- 5 years earlier than I planned. I got burnt out as an ICU nurse during COVID and could not psychologically work anymore. It all worked out. I have a similar plan as you. Buckets for different needs. My extra wants are based not on inflation as much as the stock market. People are complaining about the price of eggs, but I've been traveling more in the past 2 years than I could have ever imagined, because of similar (as you) returns on my investments. My biggest piece of advice is to do your research- like following you. Retirement is more than $$, it is also your emotional well being of being free.
@@kathyokinaga9888 I wholeheartedly agree! Congratulations on your retirement too! I just got back from Greece and headed to Portugal and Amsterdam in May. Where all have you been traveling to?
I say you did real good to last until 60 as an ICU RN. I don’t think I can last that long as a RN. Good job!
Thanks for sharing your numbers, it sounds like a solid plan. Congrats on growing your channel so quickly, my prediction is you will have a side gig very soon.
@@CurtisRetiredLife 😊 thanks! I would be delighted if it works out for me!
Thank you for sharing and congratulations on your retirement!!
Thank you so much!
Congratulations! 58.5 here. I have been wondering this myself.
Awesome! Thank you!
Thanks so much for the very detailed and transparent video! I’m in my final years before retirement and found this very helpful. By contrast, so much of the retirement planning “advice” out there is comprised of generic rules of thumb lacking real world details. Appreciated your description of building in adjustments to the plan in response to changing market or life conditions.
I’m so glad you found it helpful!
Awesome. Looking forward to hearing about your journey!
Awesome! Thank you!
You seem like a nice person & I wish you well. Please be prepared for down stock markets and lower interest rates for sure, going forward
Of course! But thanks for sharing!
What do you is happening to the stock market?
Congratulations! Looks like you are the (wo)man with a plan. Best of luck in your journey! I will be keeping track and cheering for you 😊
Ah, thank you so much!
Congratulations on your Retirement. i drove to Virginia in 2009 from Boston, i hope you enjoy your retirement.
Thanks!
Enough comfortably into your eighties concerns me but definitely approaching in the right way and with very low taxes. Congrats and best wishes!
Thanks so much!
sounds like a solid plan to me. I think you're doing great. an encouraging word for you: don't let your parents mortality limit your own. eat whole foods, exercise, take care of your body and mind and you will do great!
Thank you! And I do all those things, so hopefully I will live a lot longer then they did!
Congrats on your retirement, I am looking forward to a 59-1/2 retirement the end of next year, and plan on being a subscriber to your channel for some insight . Your channel is very nicely done and I appreciate the honest and open view. I think you will have a nice side hustle right here if you keep it up 👍
Ah, thank you! And welcome to the channel!
Just found your channel, hard to find retirement channels on moderate retirement income which is the space we're in. Great video & thanks for your willingness to share.
Welcome aboard! Thanks for tuning in!
Thank you for the positive message here. Too many videos include dual incomes to make those huge numbers. I’ve been single for a LONG time now (but I have 3 kids…so my retirement differs) and want to retire at 60 and know I won’t have $1M or more by then. So this is so needed and you cover multiple accounts and taxes…which need to be considered. Congratulations on your retirement. I’m looking forward to your videos!
I'm glad you found the video helpful! Planning for retirement can be tough, especially with kids to think about. It’s great to see you working towards your retirement!
Our financials and plan are nearly identical. I’m 61 and retiring in five weeks. Good luck.
How exciting!!
Look forward to following you. Very similar situation on my end. You probably already know, poor on paper can get you reasonable health care on the open market place. Thanks for the video!
Great minds... I have an entire video about "Poor on Paper" coming out in a couple of weeks!
Thank you for the realistic message !
My pleasure!
A little under two years ago, I retired at 59 with 500k. I have a paid off home, low monthly expenses and multiple income streams such as rental income. Having all of that in place made it easy to retire with just 500k. However, because of the stock market, that has since gone up. I live by the 4% rule and theoretically depending on the market and other variables, 500k should grow to a million dollars by the time I die in hopefully in 30 yrs or more.😁
That’s fantastic!
New Subscriber & I cannot WAIT to hear more! I'm 55 1/2, listening closely to you & making notes! Thank you for sharing your experience!
I’m so happy you found the channel! Welcome aboard!
Thank you for sharing! I’m single, too, 64, retired earlier this year in March. I subscribed. I appreciate your honest discussion.
Welcome aboard! And congratulations on your retirement!!
New subscriber. Congrats! I retired this past Oct just shy of 56 from a govt contracting job. I’m also retired military so blessed to have a pension and VA disability.
Glad to see so many people starting to retire early and changing the paradigm on working till you die! Life is short and tomorrow is not promised.
I also like these modest income retirements that debunk this whole you need millions of dollars to retire mantra!
You have low expenses so that is great but between now and when you take SS it looks like you are taking out almost 9% yearly which is double the 4% Rule so just something to watch out for. Congrats again! 🎉
Hi and welcome to the channel! Once I start taking SS in two years, I will not be taking that much from my investments. My SS will cover most of my expenses.
Several states don’t have an income tax, some folks might consider that, I live in Tenn, with no state income tax, but the sales tax is probably more than other places, about 9.5%.
Wow, I thought Texas had a high sales tax. It's 8.25%. But Texas has higher property taxes than TN.
good point!
9% sales tax in MN. Plus we have 10% income tax thanks to Walz.
@@andymoses419 well, our legislators tried to impose a state income tax about 20 years ago, we had thousands of people show up and raised such a fuss, they decided they better leave it alone.
Brave lady. I can’t imagine retiring with half a million. Good for you.
Thanks so much for tuning in!
It is important to have house paid off, no other debt …… its possible.
@@daw7773you still have property taxes and maintenance to consider
And so early. I hope it works out for her!
Thanks for sharing. The performance of the S&P 500 over the next decade is key for retiree’s who want some growth.
Most definitely!
I'm the same age as you and still working, but I've had several friends who have retired already. I would be interested in learning your financial strategies and how you fill your newfound time. From my father to the people my age who have already retired, this seems to be the biggest challenge after about a year of not working and being totally free.
Hi! Yes, filling time can be tough! I have a video coming out in a few days that touches on this subject. Stay tuned! But for me, I bike ride, go the gym regularly, joined a book club, joined an outdoor adventure group, and I'm doing this channel!
Commenting for you tube revenue…and I find your journey valuable.
@@MC-bm3cy Thank you so much for tuning in! I really appreciate it!
I am 55 wanting to retire this yeat. Wife is 58, retired and using her 401k for her monthly expenses. Her 401k is under 100k. My 401k is just over 900k. We have no pensions. I have worked since age16 and most have been factory jobs. Currently in my 33rd year with this job. Its physically demanding and health issues in the past year are reasons i want out. I also looked back on ages of relatives passing away and the avg age is about mid 70s.
Loved the transparency of your video. Only found two or three others with that. I am also originally from VA so that spoke to me. Your numbers give me even more confidence that I'm doing whats right for my wife and mysrlf. I subscribed
Welcome to the channel! I really appreciate you tuning in. Wow, 33 years! That's amazing. I don't think I could do that!
I wish you lots of luck in your early retirement. The only concern I have after listening to you was your health insurance coverage don’t underestimate that cost. That is a big deal when you’re retired. Hopefully you will stay healthy and you will live long time. Good luck.
I am using The Marketplace for health insurance. It is based on income, so my premiums are low now that I have retired.
@@retirethisway Care to share your premium cost with us?
@retirethisway. Would be a gift if you can cover in a future vid.. health insurance is one of questionmarks i have on how to cover if retiring early..
@@retirethiswayagree we have to keep marketplace intact
Congratulations! I subscribed so that I can follow along. It’s good to see someone with a well thought out strategy doing what they want to do and being comfortable with it. It’s all about what works for you.
Congrats on retirement! You may have quite a bit of interest rate risk in the fixed income/CD part of your portfolio. Next time the fed cuts rates (as they always do whenever the economy lags), your 5% return will disappear. You could consider mixing in longer term treasuries in there to make sure you lock in that rate of return.
Thanks for the suggestion!
Thank you for the video! I’m 61 and plan to retire in 8 months when I turn 62. I live in Florida and the only concern I have is how fast the cost of living is rising here. Thank you again for sharing your plan.
Best of luck! Thanks so much for tuning in!
Hi, just subscribed. Maybe it's in another video on your channel; but what are your plans for healthcare before you apply for medicare? I'm semi retired now, and I signed up for Obamacare, and it's expensive! That seems to be the wildcard these days.. healthcare expenses. I was thinking of being underinsured, but I know that one major hospital bill could sink someone's nest egg. The best insurance there is during this time is to be as healthy as you can be.
Great content btw.
Hi and welcome to the channel! I too am using Obamacare. I chose a Bronze plan, which has a high deductible. The key to getting it at an affordable price is to qualify for the subsidies. I posted a video on the health insurance options for early retirees. I'm in the process of creating one that goes through all the details of Obamacare, but it will be a couple of weeks until I get it posted. Check out this one in the interim: ua-cam.com/video/m0_HbpIKLE8/v-deo.html
@@retirethisway thanks! I'll check it out. I like your mindset. I too am going to retire without a pension. I live pretty frugally and am completely debt free... It took a while. Looking forward to future videos on this topic-- early retirement!
I did 500k at 41 years old. I've got it in an 8% dividend paying fund that works out to about $3250 per month. Almost 2x what I need for expenses. The rest goes back to build the principal.
What fund pays that high of a dividend?
@@chasingviolet6330 JEPI, JEPQ, SPYI and alot more. Just research on UA-cam
@@chasingviolet6330 canoe.eit
Can you share the dividend with the high return.
@@mirnasandoval7527 canoe.eit
I will be retiring in 3 years at 57!! Im excited about it! I can't wait to do my crafts daily, travel, and spread the gospel!! Congratulations to you!! Thanks for doing this video!!
Yay! I am excited for you!
Congratulations on your retirement - enjoy! I'm going to chime in with the others and agree that your strategy is well thought out yet flexible. It's refreshing to see so many great questions and thoughtful comments.
Thanks so much!
I enjoyed watching this video. I am 63 and retired at 58. My wife and I live a fairly modest life style. I chose to take my SS at 62 so I did not lose my earnings on my investments to pay for medical insurance / expenses (which are more that my mortgage). nest egg of about 500K. Our total monthly expenses run about $7000. The challenges that I have run into are the medical expenses. I would love to know more about your investments because the returns (1yr and 3/5 year returns) you are achieving are most impressive. Looking forward to seeing more.
Thanks for tuning in! My monthly portfolio update will be rolling out soon.
there is one factor that you are not considering.... and that is that you will probably soon be making some money from youtube !!!... another great video ! it does take a lot of moxie to be so transparent about one's personal financials, no other channel is so pertinent nor as honest as your channel
@@superman9772 🤣 If I do get monetized, it would be a wonderful perk for sure! Thanks so much for your kind words.
You forgot an important thing, you seem like a happy person in general, and happy people lead a "richer" life! (See what I did there). Congrats on your retirement. I can't wait to join the club in a couple of years. - happy thoughts.
🤣 That's a good one! And thank you!
My mother-in-law (who was awesome!) retired at the age of 60 due to the company she worked for downsizing and giving bonuses for people to take early retirement. She lived 3 years after she retired the last year she lived with pancreatic cancer, which eventually took her from us. Life is short if you think you can make early retirement work go for it! You only get one chance at this and every day is uncertain so live it up folks. Good for you young lady I hope everything goes well and you live a long health retired lifestyle surrounded by loved ones and good friend.
Thank you for sharing your story. It's a powerful reminder of how precious life is and the importance of making the most of our time.
Thanks for posting. I’m 54 and you give me hope.
Yay! We all need hope!
Good job girl! I'll follow your success and see how your doing. I'm 57 and looking to hang it up here in the next few years. I might of missed your health care plan? I'll have to watch again.
Thanks!
People retire because their fear of running out of money changed to running out of time.
so true!
Nicely stated.
Love this. Gives me hope. Thank You!
@@machineoutlivestheman1192 yay! I’m so glad!
First time viewer here. She’s very thoughtful and well planned but if she lives to 90 or so she is screwed. Never plan thinking you will die at 75 despite her folks dying at that age. She seems sharp,smart and appears in great health. Wish her the best regardless.
@@TheTaytay198 thanks for your kind words! You have misunderstood a key point though. I’m planning to live well beyond 75. I retires early to enjoy my time *just in case*. My savings will last beyond 75, as will my social security!
Investments continue to grow, mine has more than tripled since I retired.
Excited to follow your journey. 54 and hopeful to be at this stage by 59. I have one last child to get through college and then time to smell the roses. Cheers
Thanks for tuning in!
Thanks for the video. I'm coming up on 50 and plan on retiring by 58 and this video contained a lot of helpful advice/information.
Glad it was helpful!